Roth Capital raised the firm’s price target on CoreWeave (CRWV) to $135 from $110 and keeps a Buy rating on the shares. Over the past 15 days, what CoreWeave has done – $21B Meta (META) contract, $8.5B GPU-backed structured facility, new Anthropic commitment, upsized $3.5B convertible notes, and upsized $1.75B in senior notes – is unusual and remarkable, even by AI standards, the analyst tells investors in a research note. With an estimated $90B revenue backlog and 9 of the top 10 AI labs as customers, CoreWeave has established itself as a leading pure-play AI cloud platform, the firm added.
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